PBO urges continued fiscal discipline amid growing instability
Rising bond yields a concern, but not an immediate fiscal problem
OECD finds tax cuts linked to pandemic helped reduce wedge on labour
Reopening of 7-year bond affirms tougher conditions on sovereign debt market
S&P moves Greece closer to investment grade, puts focus on budget and growth
BoG: Growth could be 2 pts lower than expected, inflation may reach 7 pct
Banks’ EFSF bonds QE eligible but with little impact on liquidity
A European Stability Mechanism (ESM) spokesman confirmed on Friday that the restrictions on outright selling of EFSF bonds held by Greek banks have been lifted.
This applies only for the participation of Greek banks’ EFSF bond holdings in ECB quantitative easing (QE) in the context of its Public Sector Purchase Programme (PSPP).
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